Sumitomo Corporation is now using Sierra to process trades for precious and base metals, commodities, and energy (crude oil, petroleum, natural gas, etc.). The Sierra Commodities Blotter, a real-time, cross product portfolio management tool, is a key requirement for Sumitomo. The blotter provides consolidated, user-configurable trade and position detail views as well as one-click access to trade entry, pricing and yield calculation screens.
Sumitomo Corporation is also using Sierra’s Back Office and General Ledger modules to further support automated STP, while the SierraLink interface module enables trade and rate transfers from legacy systems, as well as providing a real-time trade interface to the Tokyo Commodities exchange (TOCOM).
Mr. K. Iwanaga, deputy general manager and commodities business head trader of Sumitomo Corporation, said, "We selected Sierra to reduce risk and increase our processing capabilities, from trade entry to payment. We expect our newly consolidated workflows to result in improved operating efficiencies that will help us contain costs and provide better service to our customers."
Farid Naib, founder and chief executive of FNX Limited, commented: "Here at FNX we are honored to have the opportunity to demonstrate that the Sierra system’s state-of-the-art Commodity functionality can support a sophisticated global trader such as Sumitomo Corporation."
Lucian Lauerman, executive director, systems integrations at FNX, described the scope of the Sumitomo installation: "This was a complex installation, spanning multiple trading desks, completed successfully and swiftly thanks to the combined expertise of FNX and Sumitomo, and the coordination and cooperation between the two companies."
